Americas

United Community Banks Inc. in Blairsville, Ga., is deferring interest payments on its trust-preferred securities at the urging of the Federal Reserve.

JPMorgan Chase & Co. paid Pier 1 Imports Inc. $28.3 million as part of a deal to retool the companies' private-label credit card agreement.

The Federal Bureau of Investigation has raided a Dallas server farm that housed computers used to launch Internet attacks against PayPal Inc., according to an affidavit posted by TheSmokingGun.com/

Several banks rushed to repay investments under the Troubled Asset Relief Program in December, but hundreds head into the new year desperate for an exit strategy, even if it means selling.

North Valley Bancorp in Redding, Calif., announced that it has completed a 1-for-5 reverse stock split.

Heartland Financial USA Inc. in Dubuque, Iowa, is combining the charters of two banks.

Santa Lucia Bancorp in Atascadero, Calif., which is operating under a written agreement with the Federal Reserve, has brought back a former president and chief executive to help it work through credit problems.

First Busey Corp. in Champaign, Ill., has announced plans to raise almost $86 million in capital by selling common stock and preferred shares.

The $4.2 billion-asset company plans to ask its shareholders, who have seen their stock drop 78% in value in the past year, to increase the number of authorized shares to 1.5 billion from 50 million at a meeting in late January.

The $709.2 million-asset company said last week that James Miller would retire on Feb. 4 and that it would launch a search to find his successor. Miller has been with Princeton National since 1979.